EIB impresses with note linked to Sofr index

EIB 230x150
By Lewis McLellan
27 Feb 2020

The European Investment Bank (EIB) braved “horrendous” market conditions in order to print the first Sofr trade linked to the Federal Reserve’s index.

The borrower printed $1bn at 28bp over Sofr, 1bp inside guidance of 29bp area. CitiHSBCRBC Capital MarketsStandard Chartered and TD Securities ran the books for the March 2024 benchmark.

The book closed with $1.7bn of orders.

A banker away from the trade said: “It got a good book for sure, but ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial